Source: Web Retailer
Payability and OFX have teamed up to offer a streamlined global cash flow solution and preferential rates for cross-border marketplace sellers.
A new global partnership provides online sellers with next-day payments from their U.S. marketplace sales, and big savings on currency conversion when they bring these sales proceeds back home.
On one side of the partnership is Payability’s Instant Access service. This provides next-day payments from marketplace sales, covering Amazon, Walmart, Newegg, Tophatter, Jet.com and MoreCommerce. Instead of payments taking weeks, online sellers can receive payments each day.
On the other side is OFX, with their Global Currency Account. This provides local currency accounts in U.S. dollars, British pounds, Euros, Canadian dollars, Australian dollars and Hong Kong dollars. Sellers can pay international suppliers directly from their account balance, or transfer funds home at exchange rates which offer significant cost savings.
The two services work in tandem to help sellers accelerate their cash-flow and bring more money back home. They can make more frequent stock purchases, pay suppliers more efficiently, and just grow faster overall.
Here’s everything you need to know about the new partnership between Payability and OFX.
How does Payability provide next-day payouts to sellers?
One of the biggest struggles high-growth sellers face is the constant delay in their cash-conversion cycle. Amazon pays out every two weeks, which isn’t ideal for sellers who need to buy more inventory and manage daily expenses. Other marketplaces can take even longer to pay out.
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